Published on NewsOK Modified: July 22, 2014 at 4:59 pm •  Published: July 22, 2014
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LONDON (AP) — The euro fell Tuesday to its lowest level against the dollar this year amid concerns that the downing of Malaysia Airlines Flight 17 will prompt a bigger freeze in relations between the European Union and Russia.

The crash of the jetliner, which cost the lives of all 298 on board, has fueled concerns of a downward spiral in political and economic ties between the 28-country EU and Russia. EU foreign ministers at a meeting in Brussels agreed to extend the current list of sanctions on Russian individuals and said they may yet penalize economic ties.

Western powers have said there is evidence that the jet was hit with a missile fired from territory controlled by pro-Russia insurgents. Moscow has suggested the missile was fired by Ukrainian government forces.

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Saudi stock market to allow foreign investment

RIYADH, Saudi Arabia (AP) — The Saudi government has approved a measure that will open the region's largest stock market to direct foreign investment next year, news that sent the exchange surging Tuesday to its highest level in nearly seven years.

The Tadawul All Share Index closed up nearly 3 percent.

The Cabinet's decision Monday, reported by the official Saudi Press Agency, paves the way for foreign financial institutions to directly buy and sell stocks listed on Saudi Arabia's $530 billion Tadawul All Share Index starting sometime in the first half of 2015.

Foreign investors outside the six-nation Gulf Cooperation Council currently can buy Saudi stocks through swaps and exchange-traded funds.

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China meat scandal hits Starbucks, Burger King

BEIJING (AP) — A suspect meat scandal in China engulfed Starbucks and Burger King on Tuesday and spread to Japan where McDonald's said the Chinese supplier accused of selling expired beef and chicken had provided 20 percent of the meat for its chicken nuggets.

Chinese authorities expanded their investigation of the meat supplier, Shanghai company Husi Food Co. A day after Husi's food processing plant in Shanghai was sealed by the China Food and Drug Administration, the agency said Tuesday that inspectors also will look at its facilities and meat sources in five provinces in central, eastern and southern China.

The scandal surrounding Husi Food, which is owned by OSI Group of Aurora, Illinois, has added to a string of safety scares in China over milk, medicines and other goods that have left the public wary of dairies, restaurants and other suppliers.

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Dueling rulings: Courts split on health law clash

WASHINGTON (AP) — President Barack Obama's health care law is snarled in another big legal battle, with two federal appeals courts issuing contradictory rulings on a key financing issue within hours of each other Tuesday.

But the split rulings don't necessarily mean another trip to the Supreme Court for the Affordable Care Act.

And White House spokesman Josh Earnest immediately announced that millions of consumers will keep getting financial aid for their premiums — billions of dollars in all — as the administration appeals the one adverse decision.

In that first ruling, a divided three-judge panel in Washington called into question the subsidies that help millions of low- and middle-income people afford their premiums, saying financial aid can be provided only in states that have set up their own insurance markets, or exchanges.

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By The Associated Press=

The Dow Jones Industrial average rose 61.81 points, or 0.4 percent, to 17,113.54. The Standard & Poor's 500 index added 9.90 points, or 0.5 percent, to 1,983.53. The Nasdaq composite advanced 31.31 points, or 0.7 percent, to 4,456.02.

U.S. benchmark crude for August delivery fell 17 cents to $104.42 a barrel on the New York Mercantile Exchange. Brent crude for September delivery, a benchmark for international oils, dropped 35 cents to $107.33 on the ICE Futures exchange in London. Wholesale gasoline fell 1 cent to $2.88 a gallon. Heating oil was flat at $2.85 a gallon. Natural gas dropped 1 cent to $3.77 per 1,000 cubic feet.



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